Crude oil softened by 0.26 per cent to Rs 3,504 per barrel in futures trade today as speculators trimmed positions to book profits amid weak global cues.
At the Multi Commodity Exchange, crude oil for delivery in November declined by Rs 9, or 0.26 per cent, to Rs 3,504 per barrel, in a business turnover of 2,267 lots.
On similar lines, crude for delivery in December shed Rs 6, or 0.17 per cent, to Rs 3,529 per barrel in 77 lots.
Analysts said trading sentiment weakened after participants took profits when oil prices fell in overseas market today.
Globally, the US benchmark West Texas Intermediate for delivery was down 13 cents, or 0.24 per cent, at USD 54.02 and Brent crude fell 16 cents, or 0.26 per cent, to USD 60.74 a barrel.
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